HM VENTURES: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
What changed
HM VENTURES
NACE 73.300, Public relations and communication consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€54,923
2024 · €57,347-€2,424
Equity
€492,705
2024 · €437,782+€54,923
Cash
€8,541
2024 · €3,906+€4,635
Balance sheet total
€767,973
2024 · €766,049+€1,924
Largest movements
Assets
- Tangible fixed assets -€41,601
down €41,601 (-5.7%), from €729,393 to €687,792
of which Land and buildings: -€44,278
- Receivables within one year +€39,378
up €39,378 (+146%), from €27,031 to €66,409
of which Trade receivables: +€22,542
Equity and liabilities
- Reserves +€54,985
up €54,985 (+21.0%), from €261,697 to €316,682
of which Distributable reserves: +€56,400
- Debts after one year -€54,248
down €54,248 (-25.4%), from €213,520 to €159,272
Income statement
- Gross operating margin -€4,728
down €4,728 (-3.3%), from €141,970 to €137,241
- Depreciation +€3,234
up €3,234 (+7.0%), from €46,366 to €49,600
- Other operating charges -€2,453
down €2,453 (-41.8%), from €5,874 to €3,420
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Result 2024
€57,347
Gross operating margin
-€4,728
Depreciation
-€3,234
Other operating charges
+€2,453
Financial income
+€1,402
Financial charges
+€1,238
Taxes
+€445
Result 2025
€54,923
raises the resultlowers the result
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€64,292
Investment
-€7,268
Financing
-€52,389
Cash 2024
€3,906
From operations (derived)
+€64,292
Net result for the year
+€54,923
Depreciation
+€49,600
Receivables within one year
-€39,378
Deferred charges and accrued income
-€244
Provisions
-€472
Trade debts
-€4,660
Tax, wage and social debts
-€1,970
Other debts
+€6,492
Investment (derived)
-€7,268
Investment in fixed assets (net)
-€7,268
Financing
-€52,389
Debts after one year
-€54,248
Current portion of long-term debt
+€1,851
Short-term financial debts
+€8
Cash 2025
€8,541
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €766,049 | €767,973 | +€1,924 | +0.3% |
| Fixed assets | 21/28 | €731,337 | €689,005 | -€42,332 | -5.8% |
| Intangible fixed assets | 21 | €1,945 | €1,213 | -€732 | -37.6% |
| Tangible fixed assets | 22/27 | €729,393 | €687,792 | -€41,601 | -5.7% |
| Land and buildings | 22 | €721,609 | €677,331 | -€44,278 | -6.1% |
| Plant, machinery and equipment | 23 | €1,521 | €2,233 | +€712 | +46.8% |
| Furniture and vehicles | 24 | €5,113 | €7,078 | +€1,965 | +38.4% |
| Other tangible fixed assets | 26 | €1,150 | €1,150 | = | 0.0% |
| Current assets | 29/58 | €34,711 | €78,968 | +€44,257 | +127% |
| Amounts receivable within one year | 40/41 | €27,031 | €66,409 | +€39,378 | +146% |
| Trade receivables | 40 | - | €22,542 | +€22,542 | |
| Other amounts receivable | 41 | €27,031 | €43,867 | +€16,836 | +62.3% |
| Cash at bank and in hand | 54/58 | €3,906 | €8,541 | +€4,635 | +119% |
| Deferred charges and accrued income | 490/1 | €3,775 | €4,018 | +€244 | +6.5% |
| Total equity and liabilities | 10/49 | €766,049 | €767,973 | +€1,924 | +0.3% |
| Equity | 10/15 | €437,782 | €492,705 | +€54,923 | +12.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €261,697 | €316,682 | +€54,985 | +21.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Other | 1319 | €0 | - | = | |
| Tax-exempt reserves | 132 | €32,330 | €30,915 | -€1,415 | -4.4% |
| Distributable reserves | 133 | €229,367 | €285,767 | +€56,400 | +24.6% |
| Profit (loss) carried forward | 14 | €169,885 | €169,822 | -€62 | 0.0% |
| Provisions and deferred taxes | 16 | €9,167 | €8,696 | -€472 | -5.1% |
| Deferred taxes | 168 | €9,167 | €8,696 | -€472 | -5.1% |
| Amounts payable | 17/49 | €319,100 | €266,573 | -€52,527 | -16.5% |
| Amounts payable after more than one year | 17 | €213,520 | €159,272 | -€54,248 | -25.4% |
| Financial debts | 170/4 | €213,520 | €159,272 | -€54,248 | -25.4% |
| Amounts payable within one year | 42/48 | €105,580 | €107,301 | +€1,721 | +1.6% |
| Current portion of amounts payable after more than one year | 42 | €52,397 | €54,248 | +€1,851 | +3.5% |
| Financial debts | 43 | €6 | €14 | +€8 | +123% |
| Credit institutions | 430/8 | €6 | €14 | +€8 | +123% |
| Trade debts | 44 | €8,088 | €3,428 | -€4,660 | -57.6% |
| Suppliers | 440/4 | €8,088 | €3,428 | -€4,660 | -57.6% |
| Taxes, remuneration and social security | 45 | €14,889 | €12,919 | -€1,970 | -13.2% |
| Taxes | 450/3 | €11,912 | €11,737 | -€175 | -1.5% |
| Remuneration and social security | 454/9 | €2,977 | €1,183 | -€1,795 | -60.3% |
| Other amounts payable | 47/48 | €30,200 | €36,692 | +€6,492 | +21.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,366 | €49,600 | +€3,234 | +7.0% |
| Other operating charges | 640/8 | €5,874 | €3,420 | -€2,453 | -41.8% |
| Gross operating margin | 9900 | €141,970 | €137,241 | -€4,728 | -3.3% |
| Operating profit (loss) | 9901 | €89,730 | €84,221 | -€5,509 | -6.1% |
| Financial income | 75/76B | €871 | €2,273 | +€1,402 | +161% |
| Recurring financial income | 75 | €871 | €2,273 | +€1,402 | +161% |
| Financial charges | 65/66B | €10,730 | €9,492 | -€1,238 | -11.5% |
| Recurring financial charges | 65 | €10,730 | €9,492 | -€1,238 | -11.5% |
| Profit (loss) for the period before taxes | 9903 | €79,871 | €77,002 | -€2,869 | -3.6% |
| Transfer from deferred taxes | 780 | €472 | €472 | = | 0.0% |
| Income taxes | 67/77 | €22,995 | €22,550 | -€445 | -1.9% |
| Profit (loss) for the period | 9904 | €57,347 | €54,923 | -€2,424 | -4.2% |
| Transfer from tax-exempt reserves | 789 | €1,415 | €1,415 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €58,762 | €56,338 | -€2,424 | -4.1% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.